Practicing Success
How did the 1991 industrial policy aim to address the role of the public sector in industrial development? |
Increasing the role of the public sector Maintaining the existing role of the public sector Drastically reducing the role of the public sector Encouraging the nationalization of industries |
Drastically reducing the role of the public sector |
Appropriate measures were taken to remove obstacles in the way of growth and expansion of industrial units of large industrial houses. Small-scale sector was assured all help and accorded due recognition. In essence, this policy has sought to liberate industry from the shackles of the licensing system (liberalisation), drastically reduce the role of the public sector (privatisation) and encourage foreign private participation in India’s industrial development (globalisation). |